Press Release
New York.- Fitch Ratings has assigned a ‘BB-‘ rating to Dominican Republic’s USD1.3 billion bonds, maturing July 2028. The notes have a coupon of 6%.
Proceeds from the issuance will be used for general purposes of the government, including the partial financing of the 2018 budget.
KEY RATING DRIVERS
The bond rating is in line with Dominican Republic’s Long-Term Foreign-Currency Issuer Default Rating(IDR) of ‘BB-‘.
RATING SENSITIVITIES
The bond would be sensitive to any changes in Dominican Republic’s Long-Term Foreign Currency IDR. Fitch affirmed Dominican Republic’s Long-Term Foreign Currency IDR at ‘BB-‘ with a Stable Outlook on Nov. 16, 2017.